Building operators call on EC to reduce bank guarantee requirement on power usage

building operators call on ec to reduce bank guarantee requirement on power usage

Building operators call on EC to reduce bank guarantee requirement on power usage

KUALA LUMPUR (Oct 3): Shopping mall operators and building managements have called on the government and the Energy Commission (EC) to review the requirement for a bank guarantee on their electricity usage, which they said could reach millions of ringgit.

In a joint press conference by Malaysia Shopping Malls Association (PPK), Building Management Association of Malaysia (BMAM), and Malaysian REIT Managers Association, the associations proposed for the bank guarantee requirement to be replaced by a standard bank guarantee of RM100,000 instead.

The bank guarantee is to cover potential costs to be incurred if a licensee defaults and Tenaga Nasional Bhd (TNB) steps into the role of the licensee, said the associations.

It has been imposed since September 2020 on public distribution licensees (PDLs) — owners of multi-tenanted premises which take bulk supply of electricity from the grid.

The guarantee initially covered electricity usage across three months, which the associations said has since been reduced to one month following a meeting with the EC in December 2021. Building operators pay approximately RM500,000 to RM1 million in electricity usage each month, they said.

Arguing against the large guarantee required, the associations said under PDL arrangements, large electricity users such as mall operators are required to maintain, repair and replace any old, faulty electricity meters.

“The building owners already have the responsibility to take care of all their power requirements within the premises or commercial building. They already pay a deposit for TNB. So that’s already covered as of now,” said BMAM treasurer Prof S Venkateswaran.

As such, the associations raised the question as to why the EC requires such a large amount in deposit when the building owners are accountable for any replacement work.

“If anything at all, there will be a small labour cost involved for TNB technicians to change any meters, but yet the high bank guarantee does not justify the cost,” he added.

Bank guarantee required on top of existing deposits

Further, the associations said the regulation, which requires PDLs to furnish the bank guarantee upon licence renewal, is in addition to the existing deposit already being paid to TNB.

“There are over 300 licensees and each of them is required to pay at least RM1 million in deposit. For a typical shopping mall that could be anywhere between RM3 million and RM5 million,” said PPK president Tan Sri Teo Chiang Kok.

“Imagine this huge amount of money sitting ideally in the bank; [it] is not very sensible. All we ask for is that the amount has to be justified and has a correlation to cover the risk,” Teo said.

He added the cost of applying for bank guarantee is also hefty for mall and building operators, as banks will likely require a deposit equivalent to the guarantee.

“This will further impact the capital flow and unjust cash position of these operators,” Teo said.

Theo further urged EC to clarify the number of incidents in which operators fail to maintain meters and default payments to TNB.

“We are of the firm view that there must be a correlation between the actual costs to be incurred to the [bank guarantee] being paid. We feel that there should not be an arbitrary quantum imposed for ‘security’ in the form of [bank guarantee],” he added. The associations have reached out to the Ministry of Energy and Natural Resources to convene a dialogue.

News Related

OTHER NEWS

Joven asegura en video que habría sido abusada por profesor de Univalle

Campaña ‘No es hora de callar’ contra violencias hacia las mujeres en el país. Es Salomé Burbano, quien en red social hizo la denuncia pública del hecho. “Soy Salomé Burbano ... Read more »

Beberapa Detik Seusai Brigadir J Ditembak, Kuat Maruf Ketakutan Mengira Akan Jadi Sasaran Berikutnya

TRIBUNJAKARTA.COM – Ferdy Sambo sempat dikira ingin menembak selain Brigadir Nofriansyah Yosua Hutabarat alias Brigadir J pada saat peristiwa pembunuhan terjadi. Hal itu disampaikan oleh asisten rumah tangga (ART) Ferdy ... Read more »

Video: Bizarre moment angry customer knocks over display items as she makes VERY strange accusations against the shopkeeper

Read more »

Kisruh Asuransi Wanaartha Life yang Bikin Izin Usahanya Dicabut OJK

Nasabah asuransi WanaArtha Life berunjuk rasa di Istana Kepresidenan Bogor, Jawa Barat, meminta perhatian Jokowi terkait dana mereka yang macet. Foto: Dok. sofyan Otoritas Jasa Keuangan (OJK) resmi mencabut izin ... Read more »

Berprestasi di Bidang Usaha, Olahraga, dan Pemerintahan, Erick Thohir Dinilai Pemuda Multitalenta

WARTAKOTALIVE, JAKARTA � Edison E Tentenabi, Sekretaris Umum KONI Kabupaten Sigi, Sulawesi Tengah, menilai Menteri BUMN Erick Thohir sebagai pemuda multitalenta, baik di dunia usaha, olahraga, hingga pemerintahan. Ketua Umum ... Read more »

Ada Bayi Perempuan Lucu di Depan Rumah Edi Susanto, Anak Siapa?

Ada Bayi Perempuan Lucu di Depan Rumah Edi Susanto, Anak Siapa? banten.jpnn.com, KIBIN – Warga Nagara, Kecamatan Kibin, Kabupaten Serang digegerkan dengan penemuan bayi perempuan tanpa busana. Dikatakan Kapolsek Cikande ... Read more »

Warhammer 40,000: Darktiden musakki livahtaa LP-levylle

Warhammer 40,000: Darktiden musakki livahtaa LP-levylle Kun peli on mahtava tavalla tai toisella, on muodostunut tavaksi julkaista musiikki myös keräilijälle paremmin sopivana LP-levynä. Nyt tällaisen käsittelyn saa Warhammer 40,000: Darktiden ... Read more »

Documentário de Príncipe Harry e Meghan Markle usa foto fora de contexto para retratar perseguição da mídia, diz jornal

A imagem em questão mostra uma série de jornalistas acumulados, dando a entender que eles estariam em busca de um clique do casal Como você viu aqui no ESTRELANDO, Príncipe ... Read more »

Seorang Warga Gunungkidul Meninggal Dunia Usai Makan Belalang

Ilustrasi belalang goreng. Foto: istimewa Belalang sampai saat ini masih menjadi salah satu makanan ekstrim di Gunungkidul yang digemari berbagai kalangan. Bahkan, harga belakang kini tak murah lagi karena satu ... Read more »

HABERLE R|| Özge Ulusoy'dan cenaze töreninde duygusal konuşma!

HABERLE R|| Özge Ulusoy’dan cenaze töreninde duygusal konuşma! Ankara’nın Çankaya ilçesindeki Turan Güneş Bulvarı’nda meydanında Elif N. yönetimindeki cip, Milli Savunma Bakanlığı lojmanları önünden yolun karşısına geçmek isteyen Emekli Albay ... Read more »

Ricky Rizal Hancurkan HP Usai Pembunuhan Yosua, Hakim Tertawa Mendengar Alasan

TRIBUNJAMBI.COM – Bripka Ricky Rizal menghancurkan HP pribadinya setelah pembunuhan Brigadir Yosua Hutabarat. Aksi penghancuran HP ini diduga sebagai bagian dari upaya menghilangkan bukti percakapan terkait rencana pembunuhan di Duren ... Read more »

Il gesuita artista famoso nel mondo abusa di suore ma il Vaticano archivia e tace. «Reati prescritti»

Città del Vaticano – C’è un bruttissimo caso di abusi che riguarda uno dei gesuiti più famosi al mondo che sta gettando un’ombra inquietante sul pontificato di Francesco e sulla ... Read more »

A brit hírszerzés szerint drasztikusan csökkent az orosz légierő bevetéseinek száma

Orosz pilóta Szu-35-ös vadászgépben, Ukrajna felett Miközben Zelenszkij ukrán elnök tanácsadója az ukrán légtér lezárását kéri a Nyugattól, a brit titkosszolgálatok elemzései szerint jelentősen visszaesett az orosz vadászgépek ukrajnai bevetéseinek ... Read more »

Denso panorama: Corea del Sur acusa a Corea del Norte de disparar más de 100 proyectiles en la frontera marítima

El Ejército de Corea del Sur acusó este lunes a Corea del Norte de disparar cerca de 130 proyectiles de artillería hacia ‘zonas tapón’ en la frontera marítima y han ... Read more »

Susanna Tapani ei ole mukana Naisleijonien turnausjoukkueessa, miesten EHT-joukkueessa kuusi ensikertalaista

Syksyllä Tapani herätti kohua, kun hän piipahti kesken MM-kisojen Suomessa ystävänsä häissä. LEHTIKUVA / JUSSI NUKARI Petteri Ikonen Hyökkääjä Susanna Tapani ei ole taaskaan Suomen naisten jääkiekkomaajoukkueen kokoonpanossa, kun maajoukkue ... Read more »

Día del Voluntario: en 2022 hubo récord de personas colaborando con distintas causas en Argentina

En el marco del Día Internacional del Voluntario, que se celebra el 5 de diciembre, el equipo de Voices dio a conocer un estudio sobre esta práctica solidaria en la ... Read more »

Untaian Harapan Wonderkid PSM Usai Dipanggil Shin Tae Yong Untuk Promosi ke Timnas Indonesia Senior

TRIBUN-SULBAR.COM – Wonderikid PSM, Muhammad Dzaky Asraf mengungkapkan harapannya usai dipanggil Shin Tae Yong untuk promosi ke tim nasional Indonesia senior. Dikutip dari Tribun Timur pada Senin (5/12/2022), Muhammad Dzaky ... Read more »

Por imprudencia, motociclista causa grave accidente en la vía Bogotá – Villeta

La imprudencia de un motero quedó grabada en un video. Intentó pasar por la derecha a un camión y se encontró de frente con un ciclista. En video quedó registrado ... Read more »

Sosok Antonio Dedola, Pacar Bule Nikita Mirzani yang Hadir Pada Persidangan, Ternyata Pengusaha Kaya

SRIPOKU.COM – Berikut ini sosok Antonio Dedola kekasih baru Nikita Mirzani yang hadir di Persidangan. Sebelum mendekam di penjara, Nikita Mirzani sempat memamerkan sosok Antonio Dedola sebagai pacar bulenya. Namun, ... Read more »

USA’s World Cup report card: best and worst players, plus predictions for 2026

Did the US reach their potential in Qatar? Probably. Inexperience told in the end, as it usually does, and proved their undoing. By exceeding the expectations of a general public ... Read more »

Thousands of passengers at Glasgow Airport are evacuated and forced to stand in car park as bomb squad probes 'suspicious package'

Passengers at Glasgow Airport have been evacuated from the terminal Bomb squad and explosive disposal unit investigate a 'suspicious package'Salvation Army have arrived to give gathered crowds warm drinks in car parkStranded passengers have been given tin foil blankets to keep warm   Read more »

Video: Robert Rinder holds back tears live on air as he returns to present Good Morning Britain - with co-host Susanna Reid consoling the barrister

Read more »

Luis Jara y su potente mensaje en los Premios Musa: “La única forma para que nuestro país tenga una industria musical sólida... "

Publimetro Chile Durante este domingo se llevaron a cabo los Premios Musa 2022, en donde varios artistas chilenos fueron premiados por votación popular tras un arduo cosechando éxitos. Entre los ... Read more »

How to watch Brazil vs. South Korea in the USA: Time, TV channel, live streams for World Cup 2022 match

How to watch Brazil vs. South Korea in the USA: Time, TV channel, live streams for World Cup 2022 match It’s crunch time for World Cup favourites Brazil, who take ... Read more »

Acusan albazo en iniciativa del Tribunal de Justicia Administrativa

Acusan albazo en iniciativa del Tribunal de Justicia Administrativa Acusan albazo en iniciativa del Tribunal de Justicia Administrativa Este lunes, la bancada de Morena y sus aliados someterá a votación ... Read more »

Tropas de Barreira: a prática soviética que usa os próprios soldados russos como "carne para canhão"

Tropas de Barreira: a prática soviética que usa os próprios soldados russos como “carne para canhão” São como “carne para canhão”: soldados russos, recrutados pelo grupo Wagner, são enviados em pequenos ... Read more »

Un trafic d'animaux sauvages organisé par une jeune toulousaine démantelé

À 22 ans, elle était à la tête d’un juteux trafic d’animaux sauvages, qui vient d’être démantelé. Toulousaine, elle se faisait appeler “la reina de la jungle” sur son compte ... Read more »

Terungkap Kematian Tak Wajar Prajurit TNI, Dipastikan Alami Kekerasan Hingga Limpa Rusak

TRIBUN-MEDAN.COM- Sempat viral kasus kematian janggal prajurit TNI AU Prada Indra kini akhirnya menemui titik terang Dilansir Kompas.com, pihak keluarga dan Komandan Polisi Militer (Danpom) sudah menerima hasil otopsi yang ... Read more »

Que situação! Marcelo Rebelo de Sousa comete falha na Gala dos Sonhos

tony carreira, marcelo rebelo de sousa Marcelo Rebelo de Sousa esteve na Gala dos Sonhos da Associação Sara Carreira, este domingo à noite, e foi protagonista de um momento que ... Read more »

Remaja asal Bitung Sulawesi Utara Syifa Tampil di Urban Fest 2022 dengan Busana Hijab

Manado, TRIBUNMANADO.CO.ID – Bitung Urban Fest 2022, menjadi wadah mempertunjukkan talenta-talenta di bidang modeling atau fashion show. Bitung Urban Fest 2022 berlangsung di lapangan parkir Stadion Duasudara Manembo-Nembo Kecamatan Matuari, ... Read more »

Andrés Fassi acusa 'amiguismo', 'servilismo' y 'decisiones nefastas' en el futbol mexicano

Han pasado cinco días de la eliminación de la Selección Mexicana en la Fase de Grupos de la Copa del Mundo Qatar 2022, y su apresurado adiós continúa generando opiniones sobre ... Read more »

Gunung Semeru Meletus Ternyata Bikin Seluruh Dunia yang Khawatir, Letusannya Bisa Bikin Bumi 'Gelap'

BANGKAPOS.COM — Minggu (4/12/2022), Gunung Semeru kembali erupsi. Kembalinya erupsi gunung Semeru membuat seluruh dunia khawatir. Bahkan Bada Meteorologi Jepang, memantau kondisi Gunung Semeru sejak Minggu (4/11/2022). �Erupsi gunung Semeru ... Read more »

Japón vs Croacia: Horario, TV; cómo y dónde ver en USA el Mundial de Qatar 2022

Japón sorprendió al quedar como líder de grupo sobre España y Alemania, ahora se mide a una Croacia que quiere volver a Cuartos de Final. Una de las llaves más ... Read more »

Indonesia's Mount Semeru erupts, forcing thousands to flee

Indonesia’s Mount Semeru erupted Sunday spewing hot ash clouds a mile high and rivers of lava down its side while sparking the evacuation of nearly 2,000 people exactly one year ... Read more »

WhatsApp down: Thousands report problems sending and receiving messages

WhatsApp down: Thousands report problems sending and receiving messages People around the world are reporting problems sending and receiving messages on the popular chat app WhatsApp. According to Downdetector, which ... Read more »

Keputusan rayuan Najib dapatkan dokumen perbicaraan kes 1MDB 8 Disember

Keputusan rayuan Najib dapatkan dokumen perbicaraan kes 1MDB 8 Disember Mahkamah Rayuan menetapkan 8 Disember ini bagi keputusan rayuan Najib Razak untuk mendapatkan dokumen perbankan berhubung syarikat yang dipercayai mempunyai ... Read more »

Usai Ganjar, Besok Giliran Bekas Wali Kota Solo Hadi Rudyatmo Dipanggil DPP PDIP Soal Dukung Capres

WARTAKOTALIVE, JAKARTA – Dewan Pimpinan Pusat (DPP) PDIP bakal memanggil Ketua DPC PDIP Kota Solo FX Hadi Rudyatmo, Rabu (26/10/2022) besok. Sekretaris Jenderal PDIP Hasto Kristiyanto mengatakan, bekas Wali Kota ... Read more »

6 Alasan Perusahaan Lakukan PHK di Indonesia, Bangkrut hingga Efisiensi

Ilustrasi PHK (freepik.com/freepik) Suara.com – Badai pemutusan hubungan kerja (PHK) kerap terdengar akhir-akhir ini. Alasan perusahaan lakukan PHK di Indonesia pun bermacam-macam, mulai dari gejolak ekonomi sampai perubahan sistem secara ... Read more »

Eduskunnan oikeusasiamies: Esitutkintojen tilanne on hyvin huolestuttava – voi heikentää luottamusta poliisiin

Poliisin esitutkinnat viivästyvät yhä useammin niin, että syyteoikeus vanhentuu, arvioi eduskunnan oikeusasiamies. LEHTIKUVA / Anni Savolainen Markku Uhari Poliisin esitutkinnat viivästyvät yhä useammin niin, että syyteoikeus vanhentuu, arvioi eduskunnan oikeusasiamies ... Read more »

WhatsApp Gangguan, Ini Usaha yang Dilakukan Pengguna Aplikasi untuk Pulihkan

Suara.com – Suara Denpasar – Para pengguna WhatsApp tampak geram karena mengalami error atau gangguan pada Selasa siang (25/10/2022). Aplikasi ini mengalami down gangguan mulai pukul 15.00 WITA hingga berita ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network